Golden Ocean Group (NASDAQ:GOGL) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $11.00 to $11.50 in a research note issued to investors on Friday. The firm presently has an “overweight” rating on the shipping company’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 40.76% from the stock’s current price.

A number of other brokerages also recently issued reports on GOGL. BidaskClub downgraded Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Morgan Stanley downgraded Golden Ocean Group from an “overweight” rating to an “equal weight” rating and set a $10.00 price target on the stock. in a report on Monday, February 12th. TheStreet upgraded Golden Ocean Group from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Clarkson Capital upgraded Golden Ocean Group from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.38.

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Golden Ocean Group (GOGL) opened at $8.17 on Friday. Golden Ocean Group has a fifty-two week low of $5.43 and a fifty-two week high of $9.95. The stock has a market capitalization of $1,220.34, a price-to-earnings ratio of -102.11 and a beta of 2.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.45 and a quick ratio of 2.68.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. Golden Ocean Group had a negative return on equity of 0.17% and a negative net margin of 0.51%. The business had revenue of $151.45 million for the quarter, compared to the consensus estimate of $104.91 million. sell-side analysts anticipate that Golden Ocean Group will post 0.6 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp grew its stake in Golden Ocean Group by 3.3% during the 2nd quarter. Northern Trust Corp now owns 29,988 shares of the shipping company’s stock worth $202,000 after buying an additional 970 shares during the last quarter. WealthTrust Axiom LLC grew its stake in Golden Ocean Group by 24.0% during the 4th quarter. WealthTrust Axiom LLC now owns 31,671 shares of the shipping company’s stock worth $258,000 after buying an additional 6,140 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Golden Ocean Group by 34.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 54,452 shares of the shipping company’s stock worth $443,000 after buying an additional 14,016 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Golden Ocean Group during the 3rd quarter worth $128,000. Finally, Fox Run Management L.L.C. purchased a new position in Golden Ocean Group during the 4th quarter worth $164,000. Hedge funds and other institutional investors own 26.92% of the company’s stock.

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Golden Ocean Group Company Profile

Golden Ocean Group Limited, formerly Knightsbridge Shipping Limited, is an international dry bulk shipping company. The Company is engaged in the transportation of dry bulk cargoes. It owns and operates a fleet of dry bulk carrier vessels, focusing on the Capesize, Panamax and Supramax markets. Its vessels transport a range of major and minor bulk commodities, including ores, coal, grains and fertilizers.

Analyst Recommendations for Golden Ocean Group (NASDAQ:GOGL)

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